Stepping Stones Financial Cleveland, Ohio

Rules of the Game

Module 2 of 38 lessons

The systems that decide what borrowing costs you and what you owe: credit, debt, taxes and insurance, plus your rights as a consumer.

Lessons in this module

  1. Credit Fundamentals

    What credit is, how lenders use your credit history, and why it can affect renting an apartment or getting a job. Includes how to start when you have no credit at all.

  2. Credit Scores and Credit Reports

    How a credit score is calculated, what FICO and VantageScore ranges mean, what a credit report contains, how to get yours for free, and how to dispute an error.

  3. Building Credit Safely

    Secured cards, becoming an authorized user and credit builder loans, plus the payment and utilization habits that raise a score over time.

  4. Loans, Debt, and Repayment Strategies

    Types of loans, how APR works, and two ways to pay off several debts: the avalanche method, which starts with the highest interest rate, and the snowball method, which starts with the smallest balance.

  5. Debt Traps and Serious Consequences

    Payday loans, high-interest credit card cycles and other products built to keep you paying, what happens when debt goes to collections or wages are garnished, and how to get out.

  6. Taxes Made Simple

    How federal income tax and tax brackets work, the difference between deductions and credits, the standard deduction, filing deadlines, and free ways to file.

  7. Insurance Basics

    What premiums, deductibles and copays are, and the basics of health, auto, renters and life insurance.

  8. Fraud Protection and Consumer Rights

    Common scams and identity theft, how to freeze your credit or set a fraud alert, your rights under the Fair Credit Reporting Act, and how to dispute charges and report fraud.